The Brooklyn-based company is a leading global producer of Halloysite clay, which sells under the trade name DRAGONITE. Halloysite clay is used in everything from a fire-retardant additive to fertilizers and pesticides to a key material in lithium-ion batteries.
In an update to shareholders, Applied Minerals provided a description of the potential opportunities in its pipeline for various uses of its flagship DRAGONITE product.
The potential business could be worth anywhere between $11.7 million to $18.7 million in revenue, if successfully developed and commercialized, according to a statement.
Here’s the list potential opportunities:
Catalytic cracking catalyst additive
A large specialty chemical company is currently evaluating the use of DRAGONITE as an additive for improved performance of a fluid catalytic cracking catalyst.
Corrosion inhibitor for coatings
A leading supplier of architectural paints and coatings is near completion of a 15-month evaluation of DRAGONITE as a replacement for an organic corrosion inhibitor currently being used in an exterior line of paint.
Improved barrier properties in polymer films
DRAGONITE has been shown to improve the barrier properties of polymer films such as those used in food packaging applications. A large domestic producer of polymer films is scheduled to evaluate DRAGONITE later this month.
Reduction of thermal conductivity of oil well cement
Third-party developmental work has shown how DRAGONITE can significantly reduce the thermal conductivity of oil well cement without impairing its compressive strength. The company said this technology has particular applicability in oil sands drilling.
Lithium-ion battery materials
Management is pursuing the development of halloysite-derived silicon and silicon oxide for use as anode material. The results of preliminary testing carried out on silicon oxide derived from DRAGONITE have justified additional evaluation work by a battery manufacturer.
Applied Minerals owns the Dragon Mine in Utah to produce the halloysite clay — the only deposit in the western hemisphere big enough for large-scale commercial production.
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